NewDelhi, 23 December (H.S.): Shares of KSH International Ltd, a leading manufacturer of magnet winding wires, made a weak debut on the stock exchanges on Tuesday, listing nearly 4% below its issue price.

The stock opened at ₹370 on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), compared to its issue price of ₹384 per share, reflecting a 3.64% decline on listing.With this, the company’s market capitalization stood at approximately ₹2,437.85 crore.

During initial trade, the stock further slipped to ₹355 on the BSE, down 7.55%, while on the NSE it fell to ₹354, registering a 7.81% decline from the issue price.IPO DetailsKSH International’s Initial Public Offering (IPO) comprised a fresh issue of ₹420 crore and an offer for sale (OFS) worth ₹290 crore.

The company had set a price band of ₹365–₹384 per share.Headquartered in Pune, Maharashtra, KSH International was established in 1979 and is currently India’s third-largest producer of magnet wires. It holds the distinction of being the top exporter in its segment.

The company manufactures and supplies magnet winding wires under the “KSH” brand to Original Equipment Manufacturers (OEMs) across multiple sectors, including power, renewable energy, railways, automotive, and industrial equipment.

KSH International exports its products to 24 countries, including the United States, Germany, the United Arab Emirates, and Japan. The company operates three manufacturing facilities located in Taloja and Chakan (Maharashtra) and is in the process of setting up a fourth plant in Supa, Ahmednagar.

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Hindusthan Samachar / Jun Sarkar